Virginia law empowers the Williamsburg Economic Development Authority (EDA) to issue tax-exempt industrial revenue bonds to fund the following of facilities of nonprofit, 501(c) 3 tax-exempt organizations, accredited educational institutions, museums, and medical facilities located in the City:
Acquisition
Construction
Enlargement
Equipping
Expansion
Improvement
Other Virginia Localities
With the consent of City Council, as well as the governing body and industrial development authority of other localities, the EDA can also issue tax-exempt bonds to fund such facilities in other Virginia localities.
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